CP7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] GameWorld...
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CP7-3 Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] GameWorld Corp. is the worlds largest multichannel video game retailer. The company reported the following amounts in its financial statements (in millions). 2013 2012 Net Sales Revenue $ 15,900 $ 15,400 Cost of Goods Sold 9,040 8,640 Beginning Inventory 2,500 1,800 Ending Inventory 2,900 2,500 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2013 and 2012. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory).
2013 2012
Inventory Turnover times per year times per year
Days to Sell days days
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